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A company sold $18,000 of goods on credit on May 1. At the time of the sale, the company recorded a debit to Accounts Receivable and a credit to Sales Revenue for $18,000. Terms were 2/10, n/30.
Complete the journal entries the company would record for each of the following independent situations:
(a) The balance due was paid, less the discount, on May 10.(b) The balance due was paid on May 30.(c) Half of the goods were returned for credit on May 4. The balance due was paid, less the discount, on May 10.
financial planning involves computation of series of budget.russell inc. is in the process of preparing the fourth
On audit, an IRS agent determines that $90,000 of the amount paid to each of the shareholders is unreasonable compensation. What effect will the IRS agent's finding have on the taxable income of the shareholders and the C corporation?
financial statements of the subsidiary and the parent are consolidated.
Evaluation of operating income and Li Retailing reported the following items for the current yea
That US parent company ABC has a subsidiary XYZ in Outer Mongolia. XYZ's total assets are as follows in Mongolian marks and evaluate what is the total value of assets if the functional currency is the Outer Mongolian mark?
Explain whether each of the following government activities is motivated by a concern about equality or a concern about efficiency. In the case of efficiency, discuss the type of market failure involved.
a. jayantha commenced business on 1 january 2010 with equity of 100000. during the year ending 31 december 2010 he paid
The landscaping is expected to have a 20-year useful life and no residual value. Prepare the journal entries at December 31, 2011 to correct the errors (ignore income taxes).
Prepare a report that will be of more value in analyzing and appraising the performance of the manager of Department D for October. Comment on the operating results.
computation of future value of investments.1.nbspalbert invested 12000 into two accounts. one payed 8 interest and one
overhead variance fixed and variable.manufacturing overhead data for the production of product h by norland company are
During April of the current year, Ronen purchased a warehouse that he used for business purposes. The basis was $1,600,000. Calculate the maximum depreciation expense during the current year?
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